Last updated: 2026-01-12 12:32:28 ET
After receiving grand jury subpoenas, the Fed chair spent the weekend deciding how to respond. By Sunday, he had his answer.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
U.S. futures have fallen while markets in Asia advanced after Federal Reserve Chair Jerome Powell said the Department of Justice had served the central bank with subpoenas
The Justice Department served the Federal Reserve with grand jury subpoenas on Friday, Fed Chair Jerome Powell said Sunday, threatening an “unpreced...
The Justice Department has subpoenaed the Fed over chair Jerome Powell's testimony over the central bank's headquarters renovation. Powell calls it part of a pressure campaign over interest rates.
Chair Powell said the investigation was a pretext as part of President Trump’s ongoing campaign to pressure the Fed to lower interest rates.
